New applications for U.S. unemployment benefits fell by 11,000 to 264,000 in the seven days ended Sept. 12. The latest report on initial claims shows the domestic economy remains resilient in face of a weaker global outlook. Economists surveyed by MarketWatch had forecast initial claims to remain steady at 275,000. This is the lowest level of claims since mid-July. That reading of 255,000 in the week ended July 18 was the lowest level of claims since September 1974. The average of new claims over the past month, meanwhile, edged down by 3,250 to a seasonally adjusted 275,000, the Labor Department said Thursday. The four-week average smooths out sharp fluctuations in the more volatile weekly report and is seen as a more accurate predictor of labor-market trends. Continuing jobless claims declined by 26,000 to 2.24 million in the week ended Sept. 5. These claims reflect people already receiving unemployment checks.
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